Bank of Japan
The Bank of Japan is an organization that contributes to the stability of the
daily lives of the people and sound development of the national economy by
appropriately controlling the volume of money in the economy and ensuring the
smooth circulation of money.
The role of the Bank of Japan is to maintain stability within the country's
financial framework. It is neither a government organization or a privately
owned business, but takes a position almost above society. It is responsible for
issuing bank-notes, controlling currency and monetary policy, and keeping the
Japanese financial kingdom stable. Its method for stabilizing the finances of
Japan is by keeping strict control over how currencies are traded and utilized.
With over 32 branches (quite a few overseas), the Bank of Japan holds a high
status in a country that values respect and innovation. The main headquarters is
located in Tokyo, where it sits on a historical throne. It was established as a
result of the Bank of Japan Act of 1882, and is run by a group of individuals
known as "The Policy Board."As a "central" bank, if is more interested in the
position of Japanese currency than anything else. The Bank of Japan has to hold
both foreign exchange reserves(through the issuing of government bonds) and gold
reserves, in order that their currency is traded effectively. It also oversees
the exchange rates, managing some while allowing others to free float (change
with the market). Still other exchange rates are influenced on a small level,
bringing a cross between a managed/free rate, which is sometimes called a "dirty
float."
Visit Bank of Japan Official Website
